Verdane and Nordic Alpha Partners agrees long-term funding plan with Re-Match raising gross proceeds of up to DKK 235m.

Merle Price, Director at Verdane, said:

“We believe Re-Match represents a unique opportunity to invest in a market leader in a niche industry with a proven technology and a genuine purpose of dealing with a global waste problem. Re-Match is a strong fit with our focus on sustainability and decarbonisation. Verdane has made a significant number of investments in both the circular economy and industrial companies dedicated to the green agenda, and has extensive experience helping businesses turn sustainability into a competitive advantage and financial results. We also see several areas where we can contribute to the Company’s operations and future growth, particularly with the support of Elevate, our in-house team of operational experts and functional advisors. Verdane has a long track record of scaling companies globally into the larger industrial growth stage, and we look forward to working together in partnership with Re-Match’s management team, Nordic Alpha Partners, and any existing shareholder who decides to roll over in the new ownership structure, to fuel the continued growth of the Company.”

 

Henrik Grand Petersen, Chairperson of the Board of Re-Match, said:

“Today is an important milestone for Re-Match in our efforts to expand our unique, patented recycling process of worn-out artificial turfs which converts a massive, rapid growing, global waste problem into a sustainable business and job creation while significantly reducing plastic and CO2 pollution. Further, the Company will as a consequence of the public tender offer receive several capital injections during the next twelve months which we otherwise considered unattainable in the public markets under the current conditions. The fact that two reputable investors have come together with a funding plan for the Company, amounting up to DKK 235m, is considered a strong vote of confidence in Re-Match, the management team and the Company’s future growth potential. In conclusion, the Board finds the public tender offer attractive for all shareholders of Re-Match and also believe that a de-listing of the Company will enable a greater ability to execute on Re-Match’s strategy which includes investing in new factories and rapidly expand the Company’s factory concept globally.”

Nikolaj Magne Larsen, CEO and co-founder of Re-Match, said:

“Since the IPO of Re-Match in December 2021, the Company has recycled more than 140,000 tonnes of artificial turf, ensuring that plastic fibers corresponding to more than 630 million plastic bags have been reused instead of being incinerated or disposed as waste. In addition to our operations in Herning, we have constructed and on the planned schedule started operations in our new factory in Tiel, the Netherlands, based on our optimal and highly efficient blueprint. The proceeds from the new investment vehicle created by Nordic Alpha Partners and Verdane will enable us to continue and potentially accelerate our factory roll-out plan, which is both to the benefit of our business and of the green agenda. On this background, I and the rest of the management team look very much forward to our new collaboration with Verdane and the continued cooperation with Nordic Alpha Partners.”

 

Laurits Bach Sørensen, Partner at Nordic Alpha Partners, said:

“Nordic Alpha Partners and Verdane fully support Re-Match’s strategy of globally expanding its factory blueprint recycling concept for the artificial turf industry, as it has succeeded with in the Netherlands. Our longstanding investment in Re-Match is based on our confidence in its unique market position, exhaustive know-how, hardworking employees and the company’s substantial sustainability impact. The fact that Verdane, with more than DKK 30bn under management, pursues this opportunity is a strong validation of what the company has achieved and should be considered great news for the Danish GreenTech exports and the Company as it now has the financial backing to fully realise its global potential.”

 

Read the press release